This column only shows when body tag is given property of 'twoCol'

This is info in the right column. This is info in the right column. This is info in the right column. This is info in the right column. This is info in the right column.

  • list item 1 in col
  • list item 2 in col
  • list item 3 in col

Account reconciliation for subsidiary and accounting records

Account reconciliation is critical — and Verdi Consulting’s experience and expertise ensure that it’s done right. Our review and reconciliation of subsidiary records and accounting records is based on our evaluation of the flow of transactions between subsidiary ledgers and main systems. This includes tracing financial statement entries to the supporting accounting transactions. We review accounting models and identifying the information needed to record this information in a timely and accurate manner.

Verdi identifies accounting issues or other concerns that the entity should address. Where appropriate, we document each critical issue in a position paper that identifies the concern, explains the impact on current operations, and provides a recommendation for resolving the issue.

We verify the process for reconciling data accounts recorded in the subsidiary ledger with totals maintained in the main accounting records. The entity must capture the data needed to meet reporting and administrative requirements, and manipulate those data to yield the reports. Verdi Consulting applies a straightforward approach to account reconciliation that results in:

  • Determining the data needed for budgetary and proprietary accounting and reporting and
  • Determining what data are already available, relying on the transaction posting models and other “as is” documentation.
  • To accomplish these ends, we review relevant transaction posting models and modify or create additional models to accommodate adjusting and closing entries or to include missing transactions. We document our findings and recommendations.